The Bull Market is Coming: Is Your Crypto Secure?
While traditional hardware wallets have been the ‘gold standard’ in secure self-custody, over $100 Billion dollars of Bitcoin (alone!) has been lost or stolen in the last 10 years because of seed phrase mismanagement. This includes funds lost to hardware wallet users. A new breed of crypto wallet is claiming they’re more secure, without the problems associated with seed phrases.
Launched in 2018, Zengo is an advanced self-custodial crypto wallet with an impressive statistic: Zero hacks or wallets drained (and over 1,000,000 users globally). Instead of using a seed phrase, Zengo leverages secure Multi-Party Computation (MPC) to build what some industry experts feel is the most secure crypto wallet - even more secure than traditional hardware wallets.
According to Zengo, this impressive feat was by design, a result of Zengo’s decision to build a self-custodial wallet with no seed phrase or private key, instead leveraging secure multi-party computation (MPC) technology, which has been used by institutions for years but had not been available for consumers until Zengo was launched by a team of cryptographers and security researchers with decades of experience in cybersecurity.
Seed phrase wallets are notorious for being susceptible to daily hacks and wallet drainers. Zengo’s differentiation is not just about numbers, but a resounding endorsement of their innovative approach to self-custody using MPC.
As the crypto world braces itself for the impending bull market, Zengo launched an additional layer of advanced self-custodial and security features including Theft Protection that ties all approvals to biometric verification you set up, and a built-in inheritance feature that requires no KYC. (Learn more about Zengo Pro and these advanced features here). These features reflect a trend of new, more secure ways to self-custody.
Is Zengo Wallet the silver bullet we’ve been looking for in secure (and simple) self-custody? You decide for yourself - but one thing is clear: Zengo is not like every other wallet.
Check out Coin Bureau's dedicated Zengo review, which does a deep dive into all the features and functions of the Zengo wallet. This is a wallet that is worth checking out before the next bull market hits.
Zengo wallet is a self-custodial wallet with no seed phrase vulnerability. Zengo's team is made up of industry experts and cybersecurity professionals with years of experience who worked to create the first enterprise-grade self-custodial MPC wallet available to consumers.
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Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.